Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Unfortunately all the recovery work over the last few years has been undone with this own goal. Surely Garry Dempster would have been the one to orchestrate this terrible deal but Graham would have signed off on it.
Unreal to think how far this company has come and see what the MCAP is.
The tax issue is resolved, funding for the pipeline agreed, micro lng plant progressing…….
MCAP now £16m.
No one can say investing in Sound is boring 😊
Kylie75, I hate to agree with you but some of the things you said made more sense than some of the posters here who's been screaming BUY BUY BUY for last 5 years like a mental hospital patient. Scary time and I am loosing faith. Bring back JP!!!
As if by magic 😊 up they pop.
enjoy the moment, our time will come 😊
Think people are waking up to what GL has done. Complete plonka. SP trading -18% at 0.77p, new all time low and still majority of conversion to go over comiing months. could be at 0.25p sooner than even i thought. Death spiral in sp.
RNS 30th Mar 2021
5% repayment start 21 December 2023. That is what the 1.5 million second tranche of the convertible bond is for, that’s my guess.
And where do you get 5% repayment due in a couple of months?
keep trying.
Think you'll find we will be generating revenue from LNG sales before the first payment is due.
I say 'we'but obviously that only applies to shareholders.
“Partially amortize the outstanding principal amount of the Notes, at a rate of 5% every six months, commencing on 21 December 2023.”
This is from the note holder agreement from a couple of years ago. That’s approx £1 million every six months, for. December.
How is GL going to find the this I asked Graham about this face to face and his response was we will deal with that payment when the time comes…
Very good 😊
Come on Pescado, have a bit of sympathy for the devil…
kylie75, hey hey you you get off of my cloud, your torn and frayed or mothers little helper, not under my thumb, but sometimes looking in yesterdays papers or winning ugly. sometimes i think, are you kylie or
are you the honky tonk women and you know you can’t always get what you want. we’re not tumbling dice and don’t see the worst, don’t paint it black just shake your hips but be respectful, don’t play with fire, there’s no use crying just admit grahams having to do the dirty work while you are blinded by the rainbows being a *****.!! you can’t get no satisfaction we are not going back to zero or going round and round.. its not all about you, going round in your black limousine, don’t be all doom and gloom and instead just think everything is turning to gold.
kylie don’t have a heart of stone, do the harlem shuffle be happy and buy buy buy.
A far less dilutive way to raise 4m would have been to just do a placing. GL was misleading at best when he described this as non dilutive. Of course it’s the most dilutive option he took. What a car crash. By the time this is over it will be far higher than 10% in my view. After warrants and all the up coming interest related dilution. What a shyster.
The drill bit….GL has stated he’s probably looking for a new rig as the one previously used has changed ownership and hasn’t been used in years. He’s also stated he wants three drill not a one drill programme. He has only one drill funded. A drill is 18-24 months away minimum in my view. Just ask Graham, he’s cagey beyond belief on this subject and all the above can be checked with him. DYOFR!!
One thing that may push us up is the drill bit turning once again
As I've always said, creeping dilution is the issue to look out for on the way to SOU's first production revenue. None of this is very complicated nor top secret -- though you have to read the RNSs as Graham isn't in the habit of trumpeting it in publicity statements. SOU has been living hand to mouth for the last several years. As recently as June they were paying their financial adviser in shares in lieu of cash for god's sake, and not for the first time! The convertible notes and associated warrants represent a high single digit percentage dilution and keeps the lights on until December -- which in Graham's recent interview caused him to declare that "the financials for once in my three years are not in bad shape". The mind boggles as to what being in actual bad shape would look like! The Calvalley deal of course comes with another massive giveaway whever it comes to fruition.
Phase 1 revenue will just about keep SOU's head above water. SP Angel have never made any secret that they value it at zero. It's still all about Phase 2 and it remains to be seen what value is left for shareholders over the intervening couple of years. I took a negative view when I largely sold out more than two and a half years ago but even I am shocked that the SP was 50% higher then than it is now. This is more than just the share price "drifting between news" as there has been plenty of news between then and now.
Next we will be offered a couple of pence buyout I suppose, let’s see what happens next trousers up or down ! Gla whatever you think
That’s right they are, but they haven’t been for much of the last 3yrs and they haven’t invested a penny of their own cash, none. If this was such a multi bag no brainer, or even o decent enough odds punt, they would have. Yet they’ve sucked loads of investor cash in, no different to the grease ball that was JP. It’s not me that needs educating totl
“ nor any mgt buying.”
You should know they can’t by in closed periods. Ironically in the same post talking about a minimum standard of investor knowledge 🤣
I have a rather unfashionable view that the AIM market should be much more highly regulated and there should be a lower limit or a minimum standard or experience of investor investing in these companies. There will have been those that have seen this before, from both sides of these type of transactions, but that £4m loan had little to do with that in my view, the main purpose was to use the transaction and associated conditions as a way to take ownership of a very large % of the company, diluting existing SH massively. GL and the team knew what this meant and what was likely. He was clearly shocked at the agm with the fact the sp wasn’t well north of 2p, and perhaps his mistake was dawning on him then? Only he knows. Big few days ahead, let’s see what they bring, eek. I tell you one thing they won’t bring is any comment or contrition from the company, nor any mgt buying.
It’s going to 0.25p by next month, if I ever chose to invest here you’ll never know and I’ll wait and by 4x the number with the same amount of money then. GL can’t be looking forward to his inbox tomorrow morning, eek.
At 1 pence per share who gives a toss.
I wouldn’t waste time writing reams about it.
Either get it in or find a better share.
You must have a very shallow existence.
This will play itself out one way or another.
There are a group of posters on this board that are working together to lure money in here. There’s a guy that works with convertible bonds as their day job (cough cough) who neglected to read the conditions of the CBs here. Ask yourself, does any of that seem plausible? I know what I think. Then there are morons like Tableleg who’s only repost to the FACT I pointed out is misdirection and character slight. What a joke. They’ve been outed that’s all. This company has no inherent value to SH. It might have an asset that is severely watered down now that could have some value but that’s not doing to benefit existing SH. At some point management might actually buy some shares with their own cash, but it’ll be far far below these prices that’s for sure.
Desperate real desperate.
Gonads done I suspect.
Borrow some and get it in again at this level.
Company is in good hands.
Drill in ground eventually needed.
Either that or find another share you like.
Nothing to see here.
Move along the bus !!
Hehe